Shopify just reported a record $14.6B in sales for the BFCM weekend (+27% YoY). Adobe Analytics says online spend hit $11.8B.
For months, the narrative has been -the consumer is tapped out-. Yet, looking at these numbers, people are spending like we’re in a boom.
Meanwhile, the market red-closed yesterday and Bitcoin flushed to $85k.
I am kind of struggling to read this signal. Is this the soft landing confirmed or is this just the last hurrah of spending before the January credit card bills hit?